At least seven people have been arrested, 71 sales offices for property projects closed, and 35 real estate agency shops shut down in the region of the Xiongan New Area in the last four days to clamp down on property speculation.
The new district in Hebei province was envisioned by President Xi Jinping as the future model of China’s development.
China’s sudden announcement on April 1 that it was creating a new economic district in the backwater zone of Hebei to rival Shenzhen and…
Source : South China Morning Post
Read more…Xi’s new dream city spurns speculators, arresting real estate agents and shutting down shops
